We are in unique times. Bloomberg writes a rare event happened last week, occurring only 18 times in the last 23 years. That works out to 0.08% of the time. The advance minus decline line exceeded negative 800 meaning there were more...

25 November, 2019

2019 has not unfolded as anyone had expected. One year ago consensus predicted at least two more interest rate increases, a 10-year yielding around 3.50%, and markets generally flat to down. ...

21 November, 2019

Markets were relatively quiet yesterday. Little or no attention was focused on the weekend events in Hong Kong, Iran, Iraq, China (“reeducation camp” unrest), North Korea, and Israel. In years past all individually would have generated considerable market reaction. ...

19 November, 2019

Is a tectonic change about occur on Wall Street? The only consistent profitable trade is long mega sized technology companies. As noted yesterday, Bloomberg writes mega sized growth is priced for 25% annual profit growth for the next decade, twice the rate of...

15 November, 2019

Where to? Bank America writes 30% of the S & P 500 earnings growth over the past five years is the result of share repurchases funded by debt. Many times I have commented about the proliferation of debt for non-economic purposes. BofA...

12 November, 2019